Ret plans - policy (BenefitsLink.com)

Headlines re Ret plans - policy, gathered by BenefitsLink.com

Guidance Overview Hewitt Federal Legislation Quick Guide Updated May 21, 2008, for Retirement Plans (PDF) - (Found June 24, 2008 )

10 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding retirement plans. (Hewitt Associates)
http://www.hewittassociates.com/_MetaBasicCMAssetCache_/Assets/Legislative%20Updates/Quick...

KiwiSaver: New Zealand's New Subsidized Retirement Savings Plans (PDF) - (Found June 24, 2008 )

8 pages. Excerpt: "On July 1, 2007, New Zealand introduced KiwiSaver, a new subsidized retirement savings plan. All new entrants to the labor force and anyone starting a new job are automatically enrolled in a plan and may opt out if they wish. Anyone younger than age 65, including the self-employed and anyone not in the labor force, may choose to set up a KiwiSaver account. The government provides tax credits for both employer and account holder contributions, a one-time tax-free payment..
http://www.socialsecurity.gov/policy/docs/ssb/v67n4/67n4p113.pdf

Bill to Clarify Use of Smoothing in Pension Funding - (Found June 24, 2008 )

Excerpt: "The bill, if passed, would supersede the Internal Revenue Service's interpretation of the Pension Protection Act that requires plans to compute their funding obligations over two years using average asset values, which could generally force plans to make larger contributions." (Workforce Management; free registration required)
http://www.workforce.com/section/00/article/25/57/01.html

Andrews and Miller Legislation Addresses Asset Smoothing, Retiree Benefits, and Other Changes - (Found June 24, 2008 )

Excerpt: "House Education and Labor Committee Chairman George Miller (D-CA) and Health, Employment, Labor, and Pensions Subcommittee Chairman Rob Andrews (D-NJ) just prior to Congress' Memorial Day recess introduced legislation (H.R. 6143) to make corrections and other modifications to the Pension Protection Act of 2006 (PPA)." (The ERISA Industry Committee)
http://www.eric.org/forms/documents/DocumentFormPublic/view?id=126C100000027

Retirement Plan Fee Bill Stalls - (Found June 24, 2008 )

Excerpt: "The author of H.R. 3185, a 401(k) plan fee disclosure bill, says it is dead, but the U.S. Department of Labor is continuing to work on completing proposed disclosure regulations." (The National Underwriter Company; free registration or paid subscription required)
http://www.lifeandhealthinsurancenews.com/cms/nulh/Breaking%20News/2008/06/13-planfees-mb

Updated '401(k) Fair Disclosure Act' Passed by House Education and Labor Committee - (Found June 24, 2008 )

Excerpt: "The House Education and Labor Committee recently reported a modified version of H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act. The modifications relate to the: (1) fee information to be disclosed by service providers, (2) investment election and benefit statement information to be provided by plan administrators to participants, and (3) the index fund 'minimum investment option' to be required for fiduciary relief under ERISA 404(c)." (Deloitte via...
http://benefitslink.com/articles/guests/washbull080527.html

Update on Development of Pan-European Pensions - (Found June 24, 2008 )

Excerpt: "While the advantages of implementing panEuropean pension arrangements include reduced costs, improved governance and better risk management, companies considering such a step should be aware of the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) findings set out in the March report." (Faegre & Benson LLP)
http://www.faegre.com/articles/article_2516.aspx

Treasury Official Predicts More Penalty-Free Plan Withdrawals to Be Allowed - (Found June 24, 2008 )

Excerpt: "Penalty-free withdrawals from retirement plans will become more common as lawmakers look for ways to give individuals greater access to their savings to pay for nonretirement needs, according to W. Thomas Reeder, benefits counsel, Office of the Treasury Assistant Secretary for Tax Policy." (Wolters Kluwer)
http://hr.cch.com/news/pension/061708a.asp

Opinion Retirement Saving for All - (Found June 24, 2008 )

Excerpt: "The retirement savings system works reasonably well for well-paid workers and large businesses. They are likely to have the best pensions, and they receive most of the $100 billion in annual tax subsidies for retirement saving. But for workers in the bottom half, many of them working for small businesses that offer no retirement plan, the news is bleak. Under the current system, more than one-third of the young Americans will reach old age with no retirement savings at all . . ...
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/19/EDHU11C39U.DTL